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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Goodwill

Changes in goodwill from January 1, 2020 through March 31, 2020 were as follows:

 

 

 

Power

Transmission

Technologies

 

 

Automation

& Specialty

 

 

Total

 

Net goodwill balance January 1, 2020

 

$

410.1

 

 

$

1,284.8

 

 

$

1,694.9

 

Goodwill impairment charge

 

 

 

 

 

(139.1

)

 

 

(139.1

)

Impact of changes in foreign currency

 

 

(3.4

)

 

 

(24.1

)

 

 

(27.5

)

Net goodwill balance March 31, 2020

 

$

406.7

 

 

$

1,121.6

 

 

$

1,528.3

 

Other Intangible Assets

Other intangible assets as of March 31, 2020 and December 31, 2019 consisted of the following:

 

 

 

March 31, 2020

 

 

December 31, 2019

 

 

 

Cost

 

 

Accumulated

Amortization

 

 

Net

 

 

Cost

 

 

Accumulated

Amortization

 

 

Net

 

Other intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets not subject to

   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames and trademarks

   (1)

 

$

247.7

 

 

$

 

 

$

247.7

 

 

$

260.0

 

 

$

 

 

$

260.0

 

In-process research and

   development

 

 

16.0

 

 

 

 

 

 

16.0

 

 

 

16.0

 

 

 

 

 

 

16.0

 

Intangible assets subject to

   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

1,171.0

 

 

 

147.9

 

 

 

1,023.1

 

 

 

1,187.7

 

 

 

137.8

 

 

 

1,049.9

 

Product technology and

   patents

 

 

209.6

 

 

 

38.7

 

 

 

170.9

 

 

 

210.0

 

 

 

33.5

 

 

 

176.5

 

Total intangible assets

 

$

1,644.3

 

 

$

186.6

 

 

$

1,457.7

 

 

$

1,673.7

 

 

$

171.3

 

 

$

1,502.4

 

 

(1)

The change in Cost of Trademarks and tradenames is a result of the $8.4 million impairment charge in the quarter-ended March 31, 2020 related to the JVS reporting unit.